Sell residential property in India; buy one abroad; Is capital gain tax payable.?



If you sell a residential property in India and buy another from the indexed gain from the sale, are you still required to pay Capital Gain Tax in India.
If you sell a residential property in India, and buy another residential property abroad from the proceeds, are you still required to pay capital gain tax on the indexed gain. Are their any references on the subject.

Sell residential property in India; buy one abroad; Is capital gain tax payable.?
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3 Replies to “Sell residential property in India; buy one abroad; Is capital gain tax payable.?”

  1. the facility of tax exemption on sale of one property and buying another property with that money is applicable for India only. first of all you cant take this money out, unless the original purchase was with foreign money legally brought into India s a NRI . even in that case you cannot get any benefit for investing abroad. the laws are for India and are applicable in India only and not beyond Indian borders. there is no question of any reference given above is self explanatory



  2. To the best of my knowledge, you can’t get any tax benefits in India. If you want to avail the tax benefit, the new property you are considering, must be located in India. And you have to buy it within two years of selling the old property, or build it in three years of selling the old one.

    For this, I have assumed that you are an ordinary resident of India for the tax purpose. You have bought the old property out of your legal income accrued in India.





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